If you’ve used Coinbase or have been in the crypto space for some time, you’ve probably heard plenty of instances where Coinbase (the onboarding service that converts between fiat currencies and cryptos (bitcoin, litecoin, ethereum, bitcoin cash) has done something that has been a service disaster that ends up becoming a PR backlash. (They somehow always seem to make moves that’s in the best interest of making money, but not necessarily benefiting the everyday customers who aren’t whales.)
Robinhood, as CI explains, is an online, bare-bones, app-based stock trading platform that made waves in the crypto space in January 2018 when they annouced that they would begin zero-fee trading, buying, and selling of cryptocurrencies. Though there are probably many more companies coming down the pipeline offering similar no-fee and low-fee services, the fact that so many people have been dissatisfied with Coinbase, any company that offers an alternative and upholds good customer service practices will get people to flock to them (within a couple weeks, Robinhood had more than 1 million people sign on to a waiting list to use their services.)
Crypto Investor picks apart the question: “Will Robinhood save us from Coinbase’s tyranny?”
As always, do your research, and use your discernment before making any investment decisions. Any choices you make rest upon your shoulders.
Be well, Everyone.
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